Healthy Life Agritec SME
SME₹10 Cr issue
-11.00%
Listing gain over issue price
Issue size
₹10 Cr
1 lot at cut-off
₹1,00,000
Lot size
10,000shares
Open
13 Jul 2022
Close
18 Jul 2022
Allotment
21 Jul 2022
Listing
26 Jul 2022
Listing performance
Issue price
₹10
Listed at
₹8.90
Listing-day close
₹9.34
Latest price
₹4.98
Close on 23 Oct 2026
Listing gain
-11.00%
Return since issue
-50.20%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 13 Jul 2022 – 18 Jul 2022
- Listing date
- 26 Jul 2022
- Face value
- ₹10 per share
- Issue price
- ₹10 per share
- Lot size
- 10,000 shares
- Total issue size
- ₹10 Cr
- Market cap at offer price
- ₹22.01 Cr
- Promoter holding
- 100.00% → 54.57% pre-issue → post-issue
- ISIN
- INE0L3501015
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Finshore Management Services Ltd.
- Registered office
- Survey No 97/3, 4, 8, 96/1, Cronos Holding, Western Express, Highway, Kashimira, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 5,00,000 | — | — |
Application size
Minimum 10,000 shares per lot, in multiples, at ₹10
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 10,000 | ₹1,00,000 |
| Retail (max) | 2 | 20,000 | ₹2,00,000 |
| S-HNI (min) | 3 | 30,000 | ₹3,00,000 |
| S-HNI (max) | 10 | 1,00,000 | ₹10,00,000 |
| B-HNI (min) | 11 | 1,10,000 | ₹11,00,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
₹10 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.44 | — |
| P/E (×) | 1.34 | — |
| Market cap | — | ₹22.01 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 7.03%
- ROCE
- 15.19%
- Debt / equity
- 0.08
- EBITDA margin
- 3.47%
- NAV per share
- ₹10.82
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Healthy Life Agritec SME
Healthy Life Agritec Limited, incorporated in November 2019, is engaged in the business of trading of raw milk in the state of Maharashtra and live chicken and agro products in the state of Maharashtra and Karnataka. The company procures raw cow milk from milk farmers in Maharashtra through a direct procurement model using procurement partners, and supplies it to milk wholesalers. Additionally, the company procures poultry from poultry growers in Maharashtra and Karnataka and supplies it to chicken wholesalers in these states.
Company Analysis
from RHPHealthy Life Agritec Limited is engaged in trading of raw milk in Maharashtra and live chicken and agro products in Maharashtra and Karnataka.
Healthy Life Agritec Limited, incorporated in November 2019, is engaged in the business of trading of raw milk in the state of Maharashtra and live chicken and agro products in the state of Maharashtra and Karnataka. The company procures raw cow milk from milk farmers in Maharashtra through a direct procurement model using procurement partners, and supplies it to milk wholesalers. Additionally, the company procures poultry from poultry growers in Maharashtra and Karnataka and supplies it to chicken wholesalers in these states.
Dairy sectorPoultry/Live chickenAgro products
Objects of the Issue
- Working capital requirements ₹854.00 Lakhs p.18
- General corporate purposes ₹100.00 Lakhs p.18
- Issue related expenses ₹46.00 Lakhs p.18
- To meet the working capital requirements ₹854.00 lakhs p.54
- General corporate purposes ₹100.00 lakhs p.54
- Issue related expenses ₹46.00 lakhs p.54
- General corporate purposes
Issue Structure
- Total Issue
- ₹1,000.00 Lakhs
- Fresh Issue
- ₹1,000.00 Lakhs
- Offer for Sale
- Nil
- Price Band
- ₹10/- per equity share (Fixed Price at Par)
- Lot Size
- 10,000 equity shares
- Face Value
- ₹10/- per equity share
Business Model
The company operates as a trader of raw milk and live poultry. It procures raw cow milk from milk farmers through procurement partners and supplies to wholesalers. It also procures live chicken from poultry growers and supplies to chicken wholesalers. Revenue is generated from these trading activities.
Business Segments
Procures raw cow milk from milk farmers in Maharashtra through direct procurement model and supplies to milk wholesalers
Procures poultry from poultry growers in Maharashtra and Karnataka and supplies to chicken wholesalers
Procurement of raw cow milk from milk farmers in Maharashtra and supply to milk wholesalers in the state
Procurement of poultry from growers in Maharashtra and Karnataka and supply to chicken wholesalers in both states
Procurement of raw cow milk from milk farmers in Maharashtra and supply to milk wholesalers in the state through procurement partners
Procurement of poultry from growers in Maharashtra and Karnataka and supply to chicken wholesalers in both states
SWOT Analysis
Strengths
- • Access to significant milk producing region with direct procurement model(p.18)
- • Diversified product portfolio across two states(p.18)
- • India ranks first in world milk production with sustained growth trajectory(p.18)
- • Established track record and promoter experience(p.71)
- • Strong management team with industry expertise(p.71)
- • Direct procurement model enabling cost control and quality assurance(p.69)
- • ISO 9001:2015 certification demonstrating quality standards(p.72)
- • Customer-centric business model(p.72)
- • Established supplier relationships with favorable terms(p.71)
- • Direct milk procurement model with quality control(p.151)
- • Revenue growth and operational scale(p.153)
- • Strong net worth and positive financial position(p.161)
- • Substantial tangible asset base(p.161)
- • Strong current ratio indicating liquidity(p.146)
- • Investor grievance mechanism in place with dedicated compliance officer and registrar support(p.169)
- • Rapid investor complaint resolution with 15-day turnaround for routine grievances(p.169)
- • Zero investor complaints in preceding three years indicates strong governance and operations(p.170)
- • Lead manager has track record managing multiple IPOs across different market conditions(p.171)
- • 100% underwriting commitment provides certainty of capital raising(p.172)
Weaknesses
- • High customer concentration with top 5 customers generating majority of revenue(p.22)
- • High supplier concentration with top 5 suppliers providing majority of purchases(p.22)
- • Lack of long-term contracts with suppliers creating supply chain vulnerability(p.23)
- • No formal agreements with customers creating demand uncertainty(p.23)
- • No quality checks at procurement stage for milk and chicken(p.22)
- • Negative operating cash flow in recent fiscal years(p.26)
- • Registered office is not owned by company and is rented from holding company(p.25)
- • No insurance coverage against business and operational risks(p.26)
- • Missing education and experience certificates of promoters and directors(p.27)
- • High dependency on suppliers for raw material supply(p.72)
- • Surge in working capital requirements(p.72)
- • Limited scale of operations relative to established players(p.73)
- • No existing insurance policies(p.73)
- • High dependence on few clients(p.152)
- • Thin profit margins(p.152)
- • Heavy reliance on raw material costs(p.152)
- • Significant current liabilities relative to assets(p.132)
- • Outstanding trade payables requiring management(p.157)
- • Company is a first-time IPO listed entity with no prior public market experience(p.169)
- • No listed subsidiaries or listed promoter entities to provide operational precedent(p.169)
- • Company has no outstanding debt instruments, limiting financial flexibility(p.169)
- • Mandatory two-year tenure on SME platform restricts access to main board capital and visibility(p.176)
- • Small issue size of ₹10 crore may limit institutional participation and market liquidity(p.177)
Opportunities
- • Sustained growth in global milk production providing market expansion potential(p.18)
- • Emergence of modern trade channels and online retailers creating distribution opportunities(p.25)
- • Ability to add new customers and increase revenue from existing customers(p.22)
- • Expanding into new geographical markets(p.72)
- • Leveraging stock exchange listing for capital and business expansion(p.72)
- • Growth in organized dairy sector(p.67)
- • Projected strong demand growth for dairy products(p.67)
- • India's position as world's largest milk producer with expanding per capita availability(p.66)
- • Expansion into poultry procurement across multiple states(p.151)
- • Scale-up of existing operations to leverage procurement network(p.151)
- • Growth in dairy and poultry demand driven by India's economy(p.153)
- • Market-making arrangement for three years provides continuous trading support and liquidity(p.176)
- • Pathway to migrate to BSE main board after two years with increased paid-up capital creates growth visibility(p.176)
- • Allocation of 50% minimum to retail investors provides broad shareholder base for future capital raises(p.177)
- • Dematerialized share structure enables efficient trading and settlement reducing settlement risk(p.176)
Threats
- • Raw milk supply subject to seasonal factors and weather-dependent production(p.21)
- • Perishable product nature creates spoilage and health hazard risks(p.21)
- • Live chicken susceptibility to infections and disease transmission(p.22)
- • Competitive market with organized and unorganized players offering lower prices(p.25)
- • COVID-19 pandemic impact on business operations and future uncertainty(p.24)
- • Requirement to obtain and maintain numerous statutory and regulatory permits(p.24)
- • Trademark application still pending approval with uncertain registration timeline(p.25)
- • Changes in government regulations and tax policies affecting business operations(p.29)
- • Natural calamities and extreme weather events impacting operations(p.30)
- • High sensitivity to government policy changes(p.72)
- • Low entry barriers enabling competition from new entrants(p.72)
- • Intense competitive pressure in unorganized and fragmented industry(p.72)
- • Rising transportation costs(p.72)
- • Dependency on a few major customers(p.71)
- • COVID-19 pandemic impact on operations(p.152)
- • Failure to comply with financial covenants of financing arrangements(p.152)
- • Increased competition in dairy and meat sectors(p.152)
- • Regulatory and licensing risks(p.152)
- • Exposure to general economic cycles and commodity prices(p.152)
- • Vulnerability to natural disasters(p.152)
- • Government and regulatory changes affecting sector(p.152)
- • Lead manager track record shows 60% of recent IPOs traded at discount 180 days post-listing indicating weak post-IPO performance(p.171)
- • Small market capitalization and limited trading volume risk on SME platform may constrain liquidity(p.173)
- • Dependence on single market maker for three years creates concentration risk if market maker exits(p.176)
- • New investor base on SME platform with retail-heavy allocation may exhibit higher volatility and speculation risk(p.177)
- • Regulatory changes to FDI and foreign investment policy could impact investor base and capital flows(p.197)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Ms. Divya Mojjada | Promoter | 12.53% | 6.84% |
| M/s. Cronosglobal Investments & Holdings Private Limited | Promoter | 87.47% | 47.73% |
| Ms. Divya Mojjada | Promoter | 12.53% | 6.84% |
| Cronosglobal Investments & Holdings Pvt Ltd | Promoter | 87.47% | — |
| Cronosglobal Investments & Holdings Private Limited | Promoter/Holding Company | 84.97% | — |
| Divya Mojjada | Director and Promoter | 15.03% | — |
Leadership
Ms. Divya Mojjada · Managing Director
Mr. Mohammed Sadiq · Non-Executive Director
Mr. Anil Kumar Vijay · Independent Director
Mr. Pushpangathan Udayakumar · Independent Director
Mr. Shekhar Kapoor · Company Secretary & Compliance Officer
Mr. Sandeep Ramkirit Gaud · CFO
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Healthy Life Agritec SME IPO FAQs
What is the lot size of Healthy Life Agritec SME IPO?
The minimum lot size of Healthy Life Agritec SME IPO is 10,000 shares. One lot costs ₹1,00,000 at the cut-off price.
When does Healthy Life Agritec SME IPO open and close?
Healthy Life Agritec SME IPO opened for subscription on 13 Jul 2022 and closed on 18 Jul 2022.
What is the listing date of Healthy Life Agritec SME IPO?
Healthy Life Agritec SME IPO listed on 26 Jul 2022.